$120K or end of the bull market? 5 things to know in Bitcoin this week

Bitcoin is navigating a critical week in October, with prices rebounding to $116,000 after a significant liquidation event. Despite this recovery, traders remain divided; some are skeptical about the continuation of the bull market. Concerns linger over the sustainability of the upswing with shorts persisting as a potential threat. Simultaneously, US inflation data is delayed due to a government shutdown, an issue unlikely to be resolved before key Fed speeches, including one from Chair Jerome Powell. Traders are also reacting to volatility spikes, with historical data suggesting a possible trend reversal. While some analysts advocate caution based on liquidity resets in the crypto market, others remain optimistic if Bitcoin can maintain crucial support levels. The market's dynamics are shifting amid the backdrop of rising gold prices which, coupled with fears of currency devaluation, could drive further interest in Bitcoin. Ultimately, the next moves for Bitcoin hinge on various economic indicators and market sentiment.

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